Early Warning Signals in Financial Institutions Workshop

FitchTraining
London, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' The goal of this workshop is to learn from recent distressed credits to develop a systematic approach for identifying early warning signals that are common to a variety of financial institutions. Case studies include both international and local examples, such as Refco, Amaranth, AHBR, Bawag.

Specifically participants will be equipped to:

recognise key themes that recur in challenged financial institution credits
highlight the key vulnerabilities of the different types of financial institution: banks, broker dealers, insurance companies, finance companies and funds
use qualitative, quantitative and market indicators, to identify vulnerable exposures
identify the likely triggers or events which would change the credit standing of a company in the future.

Target Audience
Experienced credit risk and fixed income professionals with a good understanding of the analysis of financial institutions. This workshop is a follow on from our intermediary level workshops: Intensive Bank Analysis, US Banks and Non Bank Financial Institutions.

FitchTraining offers programmes at an intermediate level and advanced level of continuing education. Although no prerequisite courses or experience is required to participate in this programme, working knowledge of financial statement analysis is required, as well as prior knowledge of the programme topic.

Content
ANALYTIC OVERVIEW
Themes: dependence on refinancing; inappropriate debt structures, creditor absorbing equity or liquidity risk, legal and structural subordination
Common themes: excessive growth, over-concentration, volatile earnings sources, asset and liability mismatches, dependence on unstable funding
Signs of distress: financial, non-financial and market indicators
Structured analytic approach: our step approach to focus on key issues: purpose, payback, risks and structure
OPERATING ENVIRONMENT
Themes: sovereign systemic risk, interest rate exposure, regulatory risk,
Systemic risks within a financial system: macro variables, competitive pressures, quality of regulation and supervision
Differing vulnerabilities by sector: liquidity and reputation risks in broker dealers and asset managers; cash flow and reserve adequacy for insurance companies; asset quality concerns for banks and finance companies
Challenge of regulated industries: changes in regulation, ring fencing of regulated entities
MANAGEMENT AND SHAREHOLDERS
Themes: lack of integrity, poor corporate governance and risk management
Companies in crisis: attributable to poor strategy or operational inefficiencies?
Recognising weak management and lack of integrity
Risk management challenges
Disclosure and corporate governance concerns
BUSINESS RISK
Themes: excessive growth and concentrations, structural interest rate risk, market and operational risk in hedge funds, securitisation, earnings volatility, inadequate reserves and profit smoothing
Asset quality in the loan book for banks and finance companies
Investment and trading risk for broker dealers, banks, insurance companies and funds: market, liquidity and operational risk
Performance risk for broker dealers and banks: assessing earnings volatility
Underwriting risk and reserve adequacy in non life insurance companies
FINANCIAL RISK
Themes: gap mismatches in banks, liquidity management for broker dealers, double leverage
Diversity and stability of funding sources: refinancing risk: quantifying liquidity and financial flexibility
Asset and liability management concerns: foreign exchange, interest rate and maturity mismatches
Cash capital management: managing transaction and funding stability
Double leverage: challenges of a leveraged holding company
SUPPORT
Availability of shareholder and government support to different types of creditor
Recovery rates on senior and hybrid exposures.
...''

Phone:+ 44 (0) 20 7201 2770

School Address:

28 Headfort Place, London, SW1X 7DH, United Kingdom.


Jobs & Resumes: London
Houses & Roommates: London
Travel Agencies: London

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